Early Life
Mohamed Ali Alabbar was born on November 8, 1956, in Dubai, United Arab Emirates. He is the eldest of 12 children. His father was a captain of a traditional trading vessel. Alabbar received a government scholarship to study finance and business administration at Seattle University, where he earned a degree in Business Administration in 1981.
Rise to Success
After graduating, Alabbar began his career at the Central Bank of the United Arab Emirates. His career took a pivotal turn when he became the founding director general of the UAE's Department of Economic Development. There, he formed a key partnership with Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai. This alliance was instrumental in propelling Dubai into the global tourism and business arena.
In 1997, Alabbar founded Emaar Properties. Under his leadership, Emaar developed some of Dubai's most renowned structures, including the Burj Khalifa and the Dubai Mall. Alabbar's strategic vision and a 24.3% stake in Emaar helped propel the company to extraordinary heights.
Key Business Strategies
Alabbar's business strategy has focused on developing large-scale, integrated communities and projects that appeal to both luxury and middle-income markets. He has diversified his investments into retail and technology, co-founding Noon.com in 2016, an e-commerce platform that has become a significant player in the Middle East. He is also the founder and chairman of Eagle Hills, a real estate development company.
Philanthropy
Specific philanthropy amounts are not readily available in the search results. However, Alabbar's involvement in various ventures and initiatives indicates a commitment to contributing to the community.